Cabot closes Mexico JV buyout

12:33 PM MST | November 18, 2013 | Vincent Valk

Cabot announced today that it has closed its buyout Grupo Kuo’s stake in Nhumo, the Mexican carbon black joint venture. Under the terms of the deal, which was announced in June, Cabot will pay $105 million for Grupo Kuo’s 60% stake in the Nhumo. Some $80 million of that was paid upon closing, and Cabot also paid out a special dividend to the Nhumo shareholders. Nhumo operates a 140,000-m.t./year carbon black plant at Altamira, Mexico, and is the leading carbon black maker in the country, Cabot says. Cabot has owned a 40% stake in Nhumho since 1990...